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Updated almost 9 years ago,
6 properties to be sold together. Is this a deal?
I'm a newbie wholesaler in Memphis, TN. I got a phone call from one of my yellow letters and the gentleman told me that he has 6 properties he'd like to sell. He's not desperate but I don't think that automatically precludes this from being a good deal for someone.
The 6 properties are currently rented for a total of $5285/mo. He's asking $410K total for all 6. I did some research and feel like the total value is closer to $470K. I feel like if I could help him sell all of them at once, I could probably get him to come down some more on the price. Below is complete breakdown.
Property #1 Rent $830 - Asking $57K - Value $60K
Property #2 Rent $830 - Asking $50K - Value $60K
Property #3 Rent $830 - Asking $75K - Value $90K
Property #4 Rent $830 - Asking $45K - Value $60K
Property #5 Rent $830 - Asking $53K - Value $60K
Property #6 Rent $830 - Asking $130K - Value $137K
What other numbers do I need? If I were to try to sell them all as a bulk deal, I'd still want to make $5K total, is there room for that? I've never come across something like this though I'm sure is a regular occurrence for some of you.